curious Posted October 30, 2020 Share Posted October 30, 2020 Wagering Performance Summary Consistent with the performance in August, TAB NZ’s key results for September were ahead of budget and ahead of last year. The Business reported strong performance for the month across all products, with sport, international racing, and domestic racing all well ahead of budget. Domestic starter and field size numbers continued to be particularly strong for both equine codes. Thoroughbred and Harness starters were up 27% and 34% (monthly code report) respectively on the same period last year, contributing to strong year-on-year domestic racing turnover growth of +21% year-on-year. Large field sizes, particularly for Thoroughbreds (12.3 v 9.8 last year), have also contributed to strong fixed odds margins that are higher than last year. International racing grew by 11%. The strength of NZ racing betting activity, continues to support growth in overseas racing turnover where we continue to see increased levels of overlap in customer betting behaviour between jurisdictions. Year-on-year comparisons for sports turnover (+7%) were impacted by Rugby World Cup last year (e.g. rugby turnover down 70%). However this was offset, as we continue to benefit from the currently condensed nature of the sports calendar with a number of competitions taking place outside their traditional cycle. In particular, the NBA playoffs and the NRL regular season stretching into September (when usually playoffs occur) resulted in significantly improved turnover. Customer numbers also remain positive with 99,100 active customers for the month, pleasingly above the average. September Operational Performance Highlights Net Profit for the month was $14.9m, which was $5.2m above budget. This is made up of; Betting Profit $13.4m (+$5.1m v Budget), Gaming Profit of $2m as budgeted and Racing Integrity RIU (RIU) of -$0.5m (against budget of -$0.6m). Operating Expenses were $9.5m for the month which was $0.3m below budget (2.8%) and $2.2m below last year (19.2%). Capital Expenditure spend for the month was $0.8m and included product development and the relocation of our Porirua TAB site. Year To Date Reported Profit is $27.7m, which is $7.0m above budget and $6.9m above last year. September Distributions Racing Codes were paid $10.3m in actual distributions for September versus $9.4m budgeted. This consisted of TAB NZ betting profit (listed as Fixed Distribution in the table below), offshore bookmaker commission fees, which are based on actual turnover (termed Betting Information User Charge (BIUC) in the table below), and Betting Duty repeal. September Wagering Performance Highlights Turnover of $210.7m was $34.4m above budget and $25.9m above last year. Strong performance against budget was driven by all products; sport +$19.0m, international racing +$11.4m and domestic racing was +$1.6m and VIP +$2.4m. Gross Betting Revenue (GBR) of $34.6m was $7.2m above budget and $5.4m above last year at a margin of 16.4%. Domestic racing accounted for $61m in turnover, with overseas racing making up $82m of the month’s total turnover and sport delivering $68m in turnover. Top 10 Sporting events by turnover Date Comp/Code Event Turnover 27-Sep UFC Israel Adesanya v Paulo Costa $682K 5-Sep NRL NZ Warriors v Parramatta Eels $601K 13-Sep Rugby Union North v South $550K 13-Sep NRL Cronulla Sharks v NZ Warriors $548K 3-Sep NRL Brisbane Broncos v Penrith Panthers $494K 17-Sep NRL South Sydney Rabbitohs v Canterbury Bulldogs $452K 26-Sep NBA Boston Celtics v Miami Heat $417K 23-Sep NBA Denver Nuggets v Los Angeles Lakers $416K 10-Sep NRL West Tigers v South Sydney Rabbitohs $408K 25-Sep NRL South Sydney Rabbitohs v Sydney Roosters $395K Top 10 Racing events by turnover Date Venue Race No Race desc Turnover 19-Sep Hastings R10 Tarzino Trophy (G1) $695K 5-Sep Te Rapa R5 WRC Northland Breeders Stakes (G3) $521K 5-Sep Te Rapa R8 Valachi Downs Foxbridge Plate (G2) $503K 5-Sep Te Rapa R10 Zacinto Mile $451K 26-Sep New Plymouth R7 NZB Ready To Run Sale Trainers Series $393K 19-Sep Hastings R8 Hawke's Bay Breeders Gold Trail Stakes (G3) $390K 26-Sep New Plymouth R10 Twilight Friday Races 23/10 & 20/11 1800 $354K 19-Sep Caulfield R8 Sir Rupert Clarke Stakes (G1) $351K 5-Sep Te Rapa R7 US Navy Flag 1400 $341K 26-Sep Caulfield R8 Hyland Race Colours Underwood Stakes (G1) $336K Quote Link to comment Share on other sites More sharing options...
Wagering Performance Summary Consistent with the performance in August, TAB NZ’s key results for September were ahead of budget and ahead of last year. The Business reported strong performance for the month across all products, with sport, international racing, and domestic racing all well ahead of budget. Domestic starter and field size numbers continued to be particularly strong for both equine codes. Thoroughbred and Harness starters were up 27% and 34% (monthly code report) respectively on the same period last year, contributing to strong year-on-year domestic racing turnover growth of +21% year-on-year. Large field sizes, particularly for Thoroughbreds (12.3 v 9.8 last year), have also contributed to strong fixed odds margins that are higher than last year. International racing grew by 11%. The strength of NZ racing betting activity, continues to support growth in overseas racing turnover where we continue to see increased levels of overlap in customer betting behaviour between jurisdictions. Year-on-year comparisons for sports turnover (+7%) were impacted by Rugby World Cup last year (e.g. rugby turnover down 70%). However this was offset, as we continue to benefit from the currently condensed nature of the sports calendar with a number of competitions taking place outside their traditional cycle. In particular, the NBA playoffs and the NRL regular season stretching into September (when usually playoffs occur) resulted in significantly improved turnover. Customer numbers also remain positive with 99,100 active customers for the month, pleasingly above the average. September Operational Performance Highlights Net Profit for the month was $14.9m, which was $5.2m above budget. This is made up of; Betting Profit $13.4m (+$5.1m v Budget), Gaming Profit of $2m as budgeted and Racing Integrity RIU (RIU) of -$0.5m (against budget of -$0.6m). Operating Expenses were $9.5m for the month which was $0.3m below budget (2.8%) and $2.2m below last year (19.2%). Capital Expenditure spend for the month was $0.8m and included product development and the relocation of our Porirua TAB site. Year To Date Reported Profit is $27.7m, which is $7.0m above budget and $6.9m above last year. September Distributions Racing Codes were paid $10.3m in actual distributions for September versus $9.4m budgeted. This consisted of TAB NZ betting profit (listed as Fixed Distribution in the table below), offshore bookmaker commission fees, which are based on actual turnover (termed Betting Information User Charge (BIUC) in the table below), and Betting Duty repeal. September Wagering Performance Highlights Turnover of $210.7m was $34.4m above budget and $25.9m above last year. Strong performance against budget was driven by all products; sport +$19.0m, international racing +$11.4m and domestic racing was +$1.6m and VIP +$2.4m. Gross Betting Revenue (GBR) of $34.6m was $7.2m above budget and $5.4m above last year at a margin of 16.4%. Domestic racing accounted for $61m in turnover, with overseas racing making up $82m of the month’s total turnover and sport delivering $68m in turnover. Top 10 Sporting events by turnover Date Comp/Code Event Turnover 27-Sep UFC Israel Adesanya v Paulo Costa $682K 5-Sep NRL NZ Warriors v Parramatta Eels $601K 13-Sep Rugby Union North v South $550K 13-Sep NRL Cronulla Sharks v NZ Warriors $548K 3-Sep NRL Brisbane Broncos v Penrith Panthers $494K 17-Sep NRL South Sydney Rabbitohs v Canterbury Bulldogs $452K 26-Sep NBA Boston Celtics v Miami Heat $417K 23-Sep NBA Denver Nuggets v Los Angeles Lakers $416K 10-Sep NRL West Tigers v South Sydney Rabbitohs $408K 25-Sep NRL South Sydney Rabbitohs v Sydney Roosters $395K Top 10 Racing events by turnover Date Venue Race No Race desc Turnover 19-Sep Hastings R10 Tarzino Trophy (G1) $695K 5-Sep Te Rapa R5 WRC Northland Breeders Stakes (G3) $521K 5-Sep Te Rapa R8 Valachi Downs Foxbridge Plate (G2) $503K 5-Sep Te Rapa R10 Zacinto Mile $451K 26-Sep New Plymouth R7 NZB Ready To Run Sale Trainers Series $393K 19-Sep Hastings R8 Hawke's Bay Breeders Gold Trail Stakes (G3) $390K 26-Sep New Plymouth R10 Twilight Friday Races 23/10 & 20/11 1800 $354K 19-Sep Caulfield R8 Sir Rupert Clarke Stakes (G1) $351K 5-Sep Te Rapa R7 US Navy Flag 1400 $341K 26-Sep Caulfield R8 Hyland Race Colours Underwood Stakes (G1) $336K
Chief Stipe Posted October 30, 2020 Share Posted October 30, 2020 The TAB has had another strong month, returning a net profit for September of $14.9 million, with betting up on racing and sport. The figure is up $5.2 million on budget and is even better than the results for August where a $12.8 million profit was recorded. TAB NZ attracted total turnover of $210.7 million for the month, $34.4 million above budget and $25.9 million ahead of last year. Sports betting saw the biggest increase of $19 million, while international racing was up $11.4 million and domestic racing up $1.6 million. The total turnover on each was: * Overseas racing $82 million * Sport $68 million and * NZ racing $61 million. The result saw the racing codes paid out $10.3 million, more than the budgeted figure of $9.4 million but less than the $11.5 million paid out for August. The TAB’s operating expenses for the month were $9.5 million, $300,000 below budget and $2.2 million, or 19.2%, below last year. Its capital expenditure for the month was $800,000 which included product development and the relocation of its Porirua TAB site. The TAB’s year to date reported profit is $27.7 million, $7 million above budget and $6.9 million up on last year. Domestic starter and field size numbers continue to be particularly strong for both equine codes. Thoroughbred and harness starters were up 27% and 34% respectively on the same period last year, contributing to strong year-on-year domestic racing turnover growth of 21%. Large field sizes, particularly for thoroughbreds (12.3 v 9.8 last year), have also contributed to strong fixed odds margins that are higher than last year. The TAB recorded 99,100 active customers for the month. Its biggest sporting event was the Israel Adesanya v Paulo Costa fight which saw $682,000 bet and racing’s highlight was the Tarzino Trophy at Hastings which attracted $695,000. Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted October 30, 2020 Share Posted October 30, 2020 Again the devil is in the detail. The result saw the racing codes paid out $10.3 million, more than the budgeted figure of $9.4 million but less than the $11.5 million paid out for August. Don't forget some costs have been shifted to the codes e.g. code marketing. So where is the NZTR report showing what was actually paid out in stakes and what were their costs? We know that MORE stakes were paid out in September than August BUT the revenue from the TAB was LESS. Also the $800,000 spent on product development and Porirua TAB relocation is interesting. I thought the new TAB system provided all the products we needed? Interesting market demographic in Porirua! Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted October 30, 2020 Share Posted October 30, 2020 Am I just a negative bastard or do people actually buy into this spin? Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted October 30, 2020 Share Posted October 30, 2020 Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted October 30, 2020 Share Posted October 30, 2020 Interesting too that there has been ZIP, ZERO, NADA from NZTR regarding financial information for over a year now. Quote Link to comment Share on other sites More sharing options...
Mikie Posted October 30, 2020 Share Posted October 30, 2020 18 minutes ago, Chief Stipe said: Am I just a negative bastard or do people actually buy into this spin? Both Mikie Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted October 30, 2020 Share Posted October 30, 2020 2 minutes ago, Mikie said: Both Mikie Didn't expect anything less from a shit stirrer. 1 Quote Link to comment Share on other sites More sharing options...
Mikie Posted October 30, 2020 Share Posted October 30, 2020 Just now, Chief Stipe said: Didn't expect anything less from a shit stirrer. Don't ask stupid rhetorical questions then Mikie Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted October 30, 2020 Share Posted October 30, 2020 13 minutes ago, Mikie said: Don't ask stupid rhetorical questions then Mikie Yes it was rhetorical - stupid? Well that's your opinion. Although it appears your opinion begins and ends at an evaluation of the question itself rather than the content of the Topic. These figures could be worse but to say they are good is a stretch when we need excellent figures. To be honest I have grown tired and extremely cynical of this type of performance reporting from the TAB. It only highlights that nothing has changed. Those that are in a position to elicit change are not and are happy to believe their own or this propaganda. Quote Link to comment Share on other sites More sharing options...
Mikie Posted October 30, 2020 Share Posted October 30, 2020 12 minutes ago, Chief Stipe said: Yes it was rhetorical - stupid? Well that's your opinion. Although it appears your opinion begins and ends at an evaluation of the question itself rather than the content of the Topic. These figures could be worse but to say they are good is a stretch when we need excellent figures. To be honest I have grown tired and extremely cynical of this type of performance reporting from the TAB. It only highlights that nothing has changed. Those that are in a position to elicit change are not and are happy to believe their own or this propaganda. You are incorrect once more I agree with everything you have said apart from your analysis of my opinion Don't assume Chief Mikie Quote Link to comment Share on other sites More sharing options...
curious Posted October 30, 2020 Author Share Posted October 30, 2020 TAB NZ will provide a trading report covering wagering performance and key highlights for Quarter One in November and expects to also release the organisation's audited full year results for 2019/20 following their presentation to the Minister for Racing and once a copy of the annual report and financial statements are presented to the House of Representatives, as required under the Racing Act 2020. Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted October 30, 2020 Share Posted October 30, 2020 I guess the bright side is if these results ARE good the TAB won't need another handout and are now trading solvent. However the figures don't add up to sustain the stakes promise. Is that your assessment Curious? Quote Link to comment Share on other sites More sharing options...
curious Posted October 30, 2020 Author Share Posted October 30, 2020 Hard to say without more detail but the reported results do seem to be on the positive side. Quote Link to comment Share on other sites More sharing options...
Nostradamus Posted October 30, 2020 Share Posted October 30, 2020 How much of the revenue have they added from the so called free bets? Is that included? If so then it could be a farce report. Quote Link to comment Share on other sites More sharing options...
mikeynz Posted October 31, 2020 Share Posted October 31, 2020 Read the form comment for Shout The Bar race 5 Flemington,interesting. Quote Link to comment Share on other sites More sharing options...
curious Posted October 31, 2020 Author Share Posted October 31, 2020 Beaten less than 6l in his last start at Randwick. That's surely solid Sydney form isn't it? Brings some solid Sydney form to Melb & must respect stable runners in spring. Quote Link to comment Share on other sites More sharing options...
mikeynz Posted October 31, 2020 Share Posted October 31, 2020 35 minutes ago, curious said: Beaten less than 6l in his last start at Randwick. That's surely solid Sydney form isn't it? Brings some solid Sydney form to Melb & must respect stable runners in spring. The form line as a rule is pretty crap. Quote Link to comment Share on other sites More sharing options...
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